Social Security Admin. announces 2025 benefit increase
By Terré Gables/KFOR,
3 days ago
OKLAHOMA CITY (KFOR) – The Social Security Administration (SSA) announced on Friday, the next increase millions of Americans will begin seeing notifications starting in early December.
According to SSA, the increase will be 2.5 percent in 2025 which means on average Social Security benefits will increase by as much as $50 dollars per month starting in January.
“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Martin O’Malley, Commissioner of Social Security.
Social Security benefits claim form. (Getty Images)
Over the last decade the COLA increase averaged 2.6 percent, although the COLA was 3.2 percent in 2024. SSA officials say, some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $176,100 from $168,600.
SSA will begin notifying people about their new benefit amount by mail starting early December with a newly designed COLA notice providing the exact dates and dollar amounts of a person’s new benefit amount and any deductions.
TO VIEW YOUR COLA NOTICE:
Individuals who have a personal my Social Security account can view their COLA notice online
Individuals can set up text or email alerts when there is a new message–such as their COLA notice–waiting for them in my Social Security.
Individuals will need to have a personal my Social Security account by Nov. 20 to see their COLA notice online. To get started, visit www.ssa.gov/myaccount
According to SSA, Social Security beneficiaries enrolled in Medicare, the 2025 benefit amount will be available online starting late November. Individuals who opt out of the available options online will receive their COLA notice by mail in December.
Information about Medicare changes for 2025 are available at www.medicare.gov . To learn more about the Social Security Act and how COLA is calculated click www.ssa.gov/cola .
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Big Dale, they're going to give you $50, and then they're going to take half of that, so basically you won't be getting anything, because you're Medicare, we'll go up another $25, which therefore you wouldn't be able to report anything again, so there's no difference. Once they stop raising medicare, every time a person gets a raise, then maybe a person can actually survive a little
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